You can start working on a job that pays $90,000 per year now at t=0. You plan to work for the next 35 years and you expect that your income will grow at 4.5% per year. You plan to save 15% every year and you expect to earn 4.5% per year on your savings. For computational simplicity, assume that you are paid your annual salary in a lump sum at the end of each working year 

How much will you have when you retire at t=35?

Answer rating: 100% (QA)

To calculate how much you will have when you retire at t35 you can break the problem down into several steps Step 1 Calculate your annual salary for e... View the full answer